bankmecu again tops other banks following interest rate decision
Australia’s first customer owned bank, bankmecu has again positioned its standard variable rate lower than the big four banks.
bankmecu Managing Director Damien Walsh, said that despite the focus on the big four banks following last week’s decision by the Reserve Bank to cut its official interest rate by 25bps Australia’s smallest banks continue to offer their customers better home loan deals.
“bankmecu’s standard variable rate at 6.44 per cent remains below that of the big four and each of the regional banks,” Mr Walsh said.
“Our customers can be reassured that by cutting rates by 20bps their bankmecu home loan remains amongst the most competitive offered by any Australian bank.
“This decision on rates is in line with our responsible approach to banking and our commitment to balance the needs of customers with loans and those with deposits.
“We continue to encourage all Australians to switch to customer owned banking and bankmecu,” Mr Walsh said.
| Standard Variable Home Loan Rates @ 10am on 12th June 2012 |
|---|
| bankmecu |
6.44% |
| nab |
6.78% |
| CBA |
6.80% |
| ANZ |
6.80% |
| Westpac |
6.89% |
| Bendigo Bank |
6.90% |
| Bank of Queensland |
6.61% |
| Suncorp |
7.08% |
Media
bankmecu’s Managing Director, Damien Walsh is available for comment.
Media contact: Stephanie De Campo (m) 0432 828 004